A Replevin Bond is a type of surety bond meant to protect a defendant from having personal property wrongfully taken from them. In a case where a plaintiff claims a right to a defendant’s personal property and takes possession of that property, a court may order the plaintiff to secure a Replevin Bond. The bond ensures that should the defendant win the case, and for some reason the plaintiff does not or cannot return the property, and in its original condition, they must pay the bond amount. The defendant then receives the value of the bond as a cash payment, which is the original value of the personal property in dispute and the legal costs and fees associated with the case. The amount of the Replevin Bond is always double the value of the personal property in question in order to cover both the value and all costs.
It is important to note that the plaintiff must give a five-day notice and summon the sheriff, or other officer, to retain the property. The property may be seized by the plaintiff before the court date, hence the need for the Replevin bond. The defendant has the right to reclaim possession of the property in its original form and be reimbursed for any legal fees, should the plaintiff lose the case.
Examples of this type of surety bond include:
- Divorce cases, where one party takes possession of personal property that is in dispute.
- Rental agreements, where a landlord takes possession of personal items from a tenant that owes rent.
- Rental/ lease agreements where payments were not made.
- An auto insurer in a dispute with an auto repair shop with an overpriced bill.
Disclaimer: This information is intended to help individuals understand surety bonds, but it should not be construed as legal advice. As with any public policy, there are a number of issues that the law and rules do not address, and law is always subject to change and interpretation. Madden & Bergstrom cannot offer legal advice or offer advisory opinions.